Outdoor Is In During 1Q5/10/2006 10:17 AM Eastern
Outdoor Channel Holdings Inc. posted first-quarter-2006 revenues of $11.3 million, up 12% from $10.1 million in the previous-year period.
The parent company of The Outdoor Channel said subscriber fees jumped 20% to $4.4 million from $3.6 million in the first quarter of 2005, and advertising revenue was up 8% to $5.7 million from $5.3 million. Membership income increased 5% to $1.2 million.
The company posted a net loss of $82,000, or $0.00 per share, compared with net income of $452,000 ($0.02) in the year-ago quarter, due largely to adopting SFAS 123R related to expensing stock-based compensation on the modified prospective transition method beginning in the first quarter of fiscal 2006, which reduced net income by $490,000 and earnings per share by $0.02 in the quarter.